Do you find it difficult to keep track of the time your employees spend on various projects, especially if they have multiple responsibilities? If so, you’re not alone. This can be frustrating when it comes to meeting deadlines and staying within budget, but thankfully there are employee time tracking software solutions that can help you easily handle these challenges and more. Here are some reasons why this type of software can benefit your business and why you should consider implementing it in your office today.
To know who works hard and who doesn’t
There’s a saying: Time is money. When you don’t know how employees are spending their time, it can be hard to tell who works hard and who doesn’t. If you want to find out which of your employees are working their hardest (and which aren’t), employee time tracking software can help you identify where your team needs improvement.
To keep track of your employees when they are outside the office
A simple, easy-to-use time tracking software will allow you to monitor your employees’ activities even when they are off-site. This is essential for making sure that your workers are dedicating their time and energy to tasks that advance your business and achieve your goals. It also allows you to create performance reports on an employee basis, which can be helpful in identifying those who need additional training or those who may be struggling at work.
To fire people that don’t work
So you’ve got a handful of employees. At some point, at least one of them is going to become a slacker. If they get too far behind on work, it’s time to start firing people. But wait! If you don’t have employee time tracking software in place and are solely relying on managers for productivity stats, how do you know who deserves that pink slip? Use software instead of your gut to make these kinds of decisions.
To cut overtime costs
A staggering one-third of U.S. employees admit to regularly working off the clock, costing their companies an estimated $15 billion a year in unclaimed wages, according to Gallup—but employee time tracking software can cut that cost significantly. Implementing such a system can prevent employees from punching out early or punching in late because managers have complete control over who gets paid for what time and when.
To avoid problems with clients or partners
One of your employees might be spending too much time on Facebook or taking long lunches. With employee tracking software installed, you can check an employee’s computer screen to see what they’re working on and compare their activity against their timesheet. This way, you’ll know if a freelancer is slacking off without spending all day monitoring them. Moreover, by keeping tabs on employees with time tracking software, you can show clients that you take security seriously.
To save money on overpaid employees
Some small businesses choose to underpay their employees and save money, while others purposefully pay their employees above market value to retain good employees. As a business owner, you can use an employee time tracking software to make sure you’re paying your employees what they’re worth. By calculating productivity levels, you can identify highly productive workers who deserve a raise or promote from within. To increase staff loyalty and motivation, share your plan with them so they feel valued as part of your team.
Better budget planning based on actual hours worked
If you run a small business, you know how crucial it is to keep track of employee time and attendance. By implementing time tracking software, you can efficiently manage your employees’ shifts while simultaneously gaining important insights into where there might be room for improvement in efficiency, as well as real monetary savings from accurate hours worked versus budgeted hours.
Client satisfaction checks
To improve customer satisfaction, keep track of what your customers are telling you about their experience with your business. If a certain aspect of your business or service isn’t working as well as it should be, find out why and use that information to tweak, fix or otherwise improve your offering. An easy way to track feedback is by sending out surveys to former customers and then following up on issues they flagged in their survey response. Make sure you know exactly how they want you to address these issues before moving forward.
Realistic salary offers by hour spent working
Ask yourself how much you are willing to make each hour. If your business is going to require a lot of time, especially in its early stages, be sure to consider how that will impact your compensation. Even if it’s not out of line with what others in your position are making, you may need additional money on top of your salary or hourly wage just to keep pace with rising costs of living and basic necessities.